SI leads Omani capitalists to invest in American biotech start-up
Sustainable Investments, an Omani firm, has led a group of Omani venture capitalists in investing in American start-up, White Dog Labs (WDL). The US-based startup has developed a proprietary fermentation technology to produce alternative protein and a variety of human and animal nutrition products.
“Food security is an ongoing concern in the gulf countries, so a sustainable, alternative protein has been of great interest to us,” said Mohab Ali Al-Hinai, Co-founder of Sustainable Investments. “We have selected WDL because it has developed a premium alternative protein that is price competitive with plant-based, and it can be produced in existing infrastructure throughout the world.”
The investment will support WDL repurposing of its recently-purchased biorefinery for the production of high-quality animal-free protein, which it will then use to produce a line of dairy and meat substitute products. Production is expected to begin in the second half of 2021, and at full capacity could produce enough protein to produce a billion burgers per year. WDL is targeting the U.S. market initially and is also looking for international production and distribution partners.
“This investment helps us continue our drive to introduce the most nutritious, delicious and versatile animal-free protein that is packed with 80% protein and all the essential amino acids. It is also non-allergenic and formulates well with other ingredients,” said Bryan Tracy, founder and CEO of WDL. “We are very pleased to welcome Sustainable Investments and the Omani venture capitalists as investors in our company, and we look forward to building a great long-term
Sustainable Investments is an Omani firm that focuses on bringing cutting-edge technological innovation to Oman and the MENA region in areas related to food security, energy and health. Founded in 2017, SI is currently based out of Muscat, Oman with professional networks in the USA, Europe and Asia.